200 SECTION 05 : FINANCIAL STATEMENTS & OTHERS Notes To The Financial Statements (Cont’d) 31 March 2025 Registration No: 104 199201005296 (236800 - T) 32. ADOPTION OF NEW MFRSs AND AMENDMENTS TO MFRSs (continued) 32.2 New MFRSs that have been issued, but only effective for annual periods beginning on or after 1 January 2025 Adoption of the above Standards did not have any material effect on the financial performance or position of the Group and of the Company, other than the following: Title Effective Date Amendments to MFRS 121 Lack of Exchangeability 1 January 2025 Amendments to MFRS 9 and MFRS 7 Amendments to the Classification and Measurement of Financial Instruments 1 January 2026 Amendments to MFRS 9 and MFRS 7 Contracts Referencing Naturedependent Electricity 1 January 2026 Annual Improvements to MFRS Accounting Standards-Volume 11 1 January 2026 MFRS 18 Presentation and Disclosure in Financial Statements 1 January 2027 MFRS 19 Subsidiaries without Public Accountability: Disclosures 1 January 2027 Amendments to MFRS 10 and MFRS 128 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Deferred The Group and the Company are in the process of assessing the impact of implementing these Amendments since the effects would only be observable for future financial years. 33. SIGNIFICANT EVENT SUBSEQUENT TO THE END OF THE REPORTING PERIOD (a) On 9 May 2025, ENRA Land Sdn. Bhd., a wholly-owned subsidiary of the Company, had incorporated a new 55% owned subsidiary known as Hamptons Avantex Property Sdn. Bhd. with a total paid up share capital of RM250,000 comprising 250,000 ordinary shares. (b) On 28 May 2025, Q Homes Sdn. Bhd., an indirect 51% owned subsidiary of the Company, had entered into Share Sale and Purchase Agreements with PNN Resources Sdn. Bhd. (“Purchaser”) to dispose of the entire share capital (“Sale Shares”) of its wholly-owned subsidiaries, Makmur Homes Sdn. Bhd. and BRP Homes Sdn. Bhd., for a total consideration of RM4,700,000 and RM1,900,000 respectively. The Sale Shares shall be transferred to the Purchaser within three months upon fulfillment of the conditions precedent. The disposal has yet to be completed as at the date of this Report. (c) On 20 June 2025, Hexagon Energy Logistics Sdn Bhd, a wholly-owned subsidiary of the Company, had entered into a binding Heads of Agreement (“HOA”) with SIP JDA Sdn Bhd (“SIP”) for the purpose of outlining the principal terms in relation to the provision of a storage tanker solution to SIP in support of CARIGALI-PTTEPI operations at the Malaysia-Thailand Joint Development Area, for a duration of twelve (12) months commencing from 1 October 2025 to 30 September 2026 for a contract value of up to USD32.09 million (equivalent to approximately RM136.56 million). (d) On 15 July 2025, the Company increased its issued and paid-up share capital from RM163,513,933 to RM169,513,933 by way of issuance of 6,000,000 new ordinary shares pursuant to the exercise of Warrants 2020/2025 at an exercise price of RM1.00 per ordinary share. The new ordinary shares issued during the financial year rank pari passu in all respects with the existing ordinary shares of the Company.
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